Li Mingyang 5.24 Weekly Trend Analysis

Weekly overall trend from May 18 to May 24

This week, BTC and ETH's weekly charts show a strong recovery pattern of “bottoming out and stabilizing → volume-driven unilateral surge → narrow-range oscillation at high levels,” with the weekly candle closing as a long lower shadow bullish candle, a typical “bullish rebound after exhaustion of downward momentum” market.

Early in the week: Continuing last week's weakness, prices quickly dropped, with BTC hitting 74226.6 and ETH reaching 2007.01 to form this week's lows. After the bearish selling pressure was largely released, market support began to emerge.

Midweek: Bullish funds concentrated in, initiating continuous volume-driven bullish rebounds on the hourly chart, with prices breaking through key resistance levels. BTC surged to a high of 77366.5, ETH to 2148.56, fully recovering the early-week decline.

Weekend: After reaching a high, prices entered sideways consolidation at high levels, forming small-bodied candles, with reduced volatility, indicating a digestion phase after the rally, awaiting new directional signals.

ETH Hourly Trend

Downward bottoming phase
An hour-long green bearish candle with a long lower shadow appeared, touching a low of 2007.01, then quickly recovered, indicating strong buying support below and that bearish momentum was fully released in this candle, signaling the start of this rebound.

Unilateral surge phase
The hourly chart shows multiple consecutive bullish candles, with prices rising from around 2030 to 2148.56, an increase of over 7%. Moving averages quickly turned upward, forming a typical bullish trend structure, with short-term upward momentum dominating the market.

High-level consolidation phase
After a surge, a green correction candle appeared, followed by small-bodied bullish and bearish candles, with prices fluctuating narrowly around 2120, and volume shrinking, representing a “power accumulation consolidation” after the rally. The trend remains bullish, with no clear reversal signals.

BTC Hourly Trend

Downward bottoming phase
Similar to ETH, an hourly green bearish candle with a long lower shadow appeared, touching a low of 74226.6, then quickly stabilized, forming a “double bottom” structure in sync with ETH, confirming a short-term bottom zone.

Unilateral surge phase
Hourly candles continued to close bullish, with prices rising from around 74500 to 77366.5, an increase of over 4%. Although the rebound strength is weaker than ETH, the overall rhythm is fully synchronized, forming a clear hourly bullish trend.

High-level consolidation phase
After surging, prices fell back to around 76800 and consolidated sideways, mainly small-bodied candles, with narrowed volatility, indicating a post-rally consolidation phase. Current support is around 76500; as long as key support is not broken, the bullish trend remains intact.

The weekly level shows a strong rebound after a decline, and the hourly level has completed the full “bottoming-out - surge - consolidation” cycle. Currently, the trend is in a consolidation phase within the bullish trend, with short-term bullish dominance.

If subsequent hourly candles break above previous highs (ETH 2148, BTC 77366), the bullish trend will continue, opening new upside space.

If the key support of this rebound (ETH 2080, BTC 76000) is broken, caution is needed as the rebound may end, and a return to weak oscillation could occur.

‼️ Personal opinion, for reference only. Market volatility is high; please operate cautiously. $ETH